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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 1: The Grifter Archipelago; or, Why the Tea Party Doesn't Matter.

Multiple Choice Questions

1. According to the author, the top one percent of Americans own almost what percent of the wealth?
(a) 60.
(b) 40.
(c) 30.
(d) 20.

2. When did Lehman Brothers declare bankruptcy?
(a) November, 2007.
(b) October, 2008.
(c) September, 2008.
(d) September 2009.

3. The Tea Party got its name from what CNBC economic analyst?
(a) Ted Coppell.
(b) John Anderson.
(c) Rick Santelli.
(d) Anderson Cooper.

4. What refers to trade in high volumes at prices that are considerably at variance with intrinsic values?
(a) Socialism.
(b) Capitalism.
(c) Free-market economics.
(d) Bubble economy.

5. What refers to a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation?
(a) Ponzi scheme.
(b) Unsubsidized loans.
(c) Derivitaves market.
(d) Subsidized market.

Short Answer Questions

1. In what year was Sarah Palin a candidate for Vice President of the United States?

2. What refers to the part of the capital markets that deals with the issuance of new securities?

3. According to the author, the Tea Party believes that the economy is self-correcting as long as commerce and _______ are separated.

4. Richard Nixon had capitalized on the "forgotten Americans." The push to gain these voters was known as________.

5. Ronald Reagan was the thirty-third governor of what state?

(see the answer key)

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